Monitronics International Inc. has successfully emerged from Chapter 11 protection and has merged with Ascent Capital Group Inc., marking the completion of the company’s financial recapitalization. As a result of the financial recapitalization, Monitronics’ largest shareholders will be EQT Credit, the credit arm of EQT Partners, a global investment firm with around EUR 40 billion in assets under management, and Brigade Capital Management, a global investment management firm.
“This is an exciting day for Monitronics as we have emerged as a stronger, more focused organization,” said Jeffery Gardner, president and CEO of Monitronics. “With renewed balance sheet strength, a strong subscriber portfolio and recurring revenue base, and the support of EQT and Brigade, two highly regarded financial sponsors, we are well positioned to be a leader in the accelerating home security market and to execute on the vast growth opportunities ahead. I want to thank our dedicated team of employees as well as our dealers, customers and suppliers, who continued to believe in our company and worked with us to achieve this successful balance sheet recapitalization.”